AML Compliance Guide for Law Firms in UAE

Legal practitioners,  including lawyers, notaries, and legal service providers, face vulnerabilities relating to financial crimes, such as money laundering and financing of terrorism. For that reason, the UAE has placed law firms and legal professionals under the AML regime.

UAE’s AML laws mandate that law firms and professionals need to take responsibility for identifying and mitigating ML/FT risks.

To help them ensure AML compliance, we have come up with our comprehensive guide that will act as their go-to partner in crossing the compliance hurdles. Covering various crucial aspects, this guide provides invaluable insights into safeguarding your practice against potential exploitation by financial criminals.

Explore the following key areas within the guide:

• goAML Registration
• Appointing an AML Compliance Officer
• Conducting Enterprise-Wide Risk Assessment
• Establishing AML/CFT Policies, Procedures, and Controls
• Client Due Diligence Measures
• Ongoing Monitoring of Transactions and Business Relationships
• Compliance with Targeted Financial Sanctions
• Identifying and Reporting Suspicious Activities or Transactions
• AML Training
• AML Governance
• Filing Real Estate Activity Report (REAR)
• AML Record Keeping

By going through this guide, you’ll learn how critical AML compliance is, for law firms operating in the UAE. Take proactive steps to shield your business from potential risks associated with financial crimes by exploring this exclusive guide tailored for law firms.